CAMPERDOWN Dairy Company (CDC) is set to go from strength to strength over the coming year, following a change of ownership recently.
After backing the formation of the Camperdown based milk processor five years ago, Aussie Farmers Direct (AFD) sold the company to Australian Dairy Farms Group on December 29.
AFD chief executive officer Keith Louie said the company was proud to have resurrected the former Bonlac Foods plant in 2010 after it lay dormant for 10 years.
“We’re so thrilled that today, Camperdown Dairy Company provides work for 35 locals and processes over 18 million litres of milk for customers both here and overseas,” Mr Louie said.
“We also gave local dairy farmers another valuable and viable path to market for their milk.”
Mr Louie said while the Camperdown plant was a “fantastic business and asset”, it was felt the funds invested in the plant could be better used to develop growth opportunities for the broader AFD business.
AFD also signalled its intention to continue as a major customer of the dairy.
CDC chief executive officer Peter Skene paid tribute to AFD for their initial faith in the project and support in making the plant a success.
“We understand Aussie Farmers’ position and are delighted with their choice of a buyer,” Mr Skene said.
“We see the Australian Dairy Farms Group as the perfect fit in terms of what we want to achieve in the future.
“Our interaction with the new buyers has been first class.
“They are also very positive about investing in Camperdown in the future.
“In fact they have already bought a number of farming properties in the local area.”
Mr Skene said CDC intended to seek out further opportunities in the export market and with major Australian retailers.
The company already boasts four active customers in China and expects three more to come on board in 2016.
“We’re really planning to step up and find new markets,” Mr Skene said.
“The more product we sell, the more milk we’ll have to process and the more jobs will be created.
“By the end of the year we will probably have more than 50 staff, and that’s great for Camperdown.”
The only vertically integrated dairy manufacturer listed on the Australian Stock Exchange, Australian Dairy Farms Group shares soared from 14 cents to 60 cents immediately after the CDC purchase and now sits at between 30 cents and 40 cents.
Initially producing just white milk products, CDC has expanded greatly in the last two years, adding a wide range of flavoured milk, yoghurt and butter to its label.
The latest product released to the market this week was a 70gram yoghurt pouch in various flavours.